A local civic group gave the county government $25,000 cash to be used to pay the utility bills of persons with income below the poverty level. The city should account for the $25,000 contribution in:

a.An investment trust fund.
b.The General Fund.
c.A permanent fund.
d.Private-purpose trust fund.

In this case, the local government must use private purpose trust funds to account for the money received to help other people that are not part of the local government, in this case poor citizens. This type of trust funds are regulated by state laws and they are generally not included in the government entity's budget.

Answer Link

A local civic group gave the county government $25,000 cash to be used to pay the utility bills of persons with income below the poverty level. The city should account for the $25,000 contribution in: a.An investment trust fund. b.The General Fund. c.A permanent fund. d.Private-purpose trust fund.

Respuesta :

Otras preguntas

A local civic group gave the county government $25,000 cash to be used to pay the utility bills of persons with income below the poverty level. The city should account for the $25,000 contribution in:

a.An investment trust fund.
b.The General Fund.
c.A permanent fund.
d.Private-purpose trust fund.